Abstract
Several Finnish projections for future electricity demand and the need for peak load capacity indicate a demand growth of about 2 GW from the present to the year 2030. The retirement of existing fossil fuel plants and old nuclear power plants will cause increased net import needs during 2020's, even when assuming additional energy efficiency measures and the commissioning of two new nuclear power plants recently approved by the Finnish Parliament. By the year 2030, the need for additional new capacity will be about 6 GW. The increased dependence on import is in contradiction with the official Government targets. This situation is not unique to Finland, but rather is likely to be the case in many other European countries as well. Both the energy company Fortum and energy-intensive industry in Finland see nuclear energy as a viable future generation technology. We describe the « Mankala » concept which is successfully used to build new nuclear capacity at liberalised electricity market in Finland.
Highlights
The Nordic electricity markets were liberalised in the 1990’s and they constitute one of the world’s first multi-national liberalised electricity markets [1]
The retirement of existing fossil fuel plants and old nuclear power plants will cause increased net import needs during 2020’s, even when assuming additional energy efficiency measures and the commissioning of two new nuclear power plants recently approved by the Finnish Parliament
We describe the « Mankala » concept which is successfully used to build new nuclear capacity at liberalised electricity market in Finland
Summary
The Nordic electricity markets were liberalised in the 1990’s and they constitute one of the world’s first multi-national liberalised electricity markets [1]. EPJ Web of Conferences but did not themselves have the capacity to construct and run power plants, founded together a company to construct and operate power plants and sell energy to the shareholders at cost price instead of giving dividend This model seems to be successful in realizing large nuclear power investments in today’s liberalised electricity markets, contrary to the often heard statement that at free electricity markets, nuclear power is not constructed due to the large investment costs and related risks seen by financing institutions. In July 2010, the Finnish parliament gave positive decision-inprinciple for two additional units, one applied by TVO and the other by a newcomer, Fennovoima These are both companies owned by groups of energy generation companies and energy-intensive industry. The substantial increase of nuclear power and renewables will only temporarily be able to satisfy the demand in spite of additional energy efficiency measures
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